The Police Pension Fund VILLAGE OF LOMBARD

Transcription

1 The Police Pension Fund VILLAGE OF LOMBARD NOTICE OF A REGULAR MEETING OF THE BOARD OF TRUSTEES The Lombard Police Pension Fund Board of Trustees will conduct a regular meeting on January 11, 2016 at 1:30 pm in the Village Hall Trustees Conference Room located at 255 E. Wilson Avenue, Lombard, IL for the purposes set forth in the following Agenda: AGENDA 1) Call to Order 2) Roll Call 3) Public Comment Limit of 3 minutes per comment 4) Approval of Minutes a) October 19, 2015 Regular Meeting Minutes b) Six Month Review of Closed Session Minutes 5) Accountant s Report a) Monthly Financial Report b) Quarterly Disbursement Summary c) Presentation and Approval of Bills d) Additional Bills, if any 6) Investment Report a) Sawyer Falduto Asset Management b) Review/Update Investment Policy 7) Old Business a) Trustee Training Update i. Approve IPPFA Fall Conference Reimbursements 8) New Business a) Approve 2016 Cost of Living Adjustments for Pensioners b) Approve Applications for Membership- Evan M. Boros c) Disability Application Status- Officer Terry Olson d) Discussion of a Debit/Credit Card for the Board e) Review Board of Trustees Term Expirations 9) Other Business a) Affidavits of Eligibility b) Discussion of Lauterbach & Amen Tax Insert for Pensioners 10) Attorney s Report a) Legal Updates b) Annual IME- Joseph Metallo 11) Closed Session, if needed 12) Adjournment Posted on: By: Benny Ranallo, Secretary 1 of 40

2 The Police Pension Fund VILLAGE OF LOMBARD 235 EAST WILSON AVE LOMBARD, IL MINUTES OF THE REGULAR MEETING OCTOBER 19, 2015 A regular meeting of the Lombard Police Pension Fund Board of Trustees was held on Monday, October 19, 2015 at 1:30 pm in the Chief s Conference Room located at 235 E. Wilson, Lombard, IL 60148, pursuant to notice. CALL TO ORDER: ROLL CALL: PRESENT: ABSENT: ALSO PRESENT: President Shafer called the meeting to order at 1:30 pm. President Richard Shafer, Vice President Jerry Peterson, Secretary Benny Ranallo, Assistant Secretary Tom Wirsing, and Trustee Karen Koenig (arrived at 1:32 pm) None Board Attorney Charles Atwell, Atwell & Atwell; John Falduto and Tom Sawyer, Sawyer Falduto Asset Management; Brian Koehler, Village of Lombard; Terry Olson, Lombard Police Officer; Derek Flessner and Stefanie Bravo, Lauterbach & Amen (L&A) PUBLIC COMMENT: None APPROVAL OF MINUTES: The Board reviewed the minutes of the July 13, 2015 regular meeting, August 27, 2015 special meeting, and September 25, 2015 special meeting. A motion was made by Trustee Peterson and seconded by Trustee Wirsing to approve the July 13, 2015 regular meeting minutes. AYES: Trustees Wirsing, Peterson, Ranallo and Shafer NAYS: None ABSENT: Trustee Koenig Trustee Koenig joined the meeting at 1:32 pm. A motion was made by Trustee Ranallo and seconded by Trustee Peterson to approve the August 27, 2015 special meeting minutes. AYES: Trustees Wirsing, Peterson, Ranallo and Shafer NAYS: None ABSENT: None ABSTAIN: Trustee Koenig A motion was made by Trustee Koenig and seconded by Trustee Wirsing to approve the September 25, 2015 special meeting minutes. AYES: Trustees Wirsing, Koenig, Peterson, Ranallo and Shafer NAYS: None ABSENT: None ACCOUNTANT S REPORT: Monthly Financial Report: The Board was presented with the Monthly Financial Report for the nine month period ending September 30, As of September 30, 2015, the net position held in trust for pension benefits is $57,648, with a change in position of -$341, The Board reviewed the Cash Analysis Report, Revenue Report, Expense Report, Member Contribution Report and Payroll Journal with the Board. A motion was made by Trustee Wirsing and seconded by Trustee Peterson to accept the September 30, 2015 Monthly Financial Report. 2 of 40

3 Lombard Police Pension Fund Meeting Minutes October 19, 2015 Page 2 of 4 AYES: NAYS: ABSENT: Trustees Wirsing, Koenig, Peterson, Ranallo and Shafer None None Quarterly Disbursement Summary: The Board reviewed the Quarterly Disbursement Summary for payroll and vendor disbursements paid in the third quarter from July 1, 2015 through September 30, 2015, totaling $948, A motion was made by Trustee Wirsing and seconded Trustee Peterson to approve the third quarter Quarterly Disbursement Summary for payroll and vendor disbursements totaling $948, AYES: Trustees Wirsing, Koenig, Peterson, Ranallo and Shafer NAYS: None ABSENT: None Presentation and Approval of Bills: The Board reviewed the Vendor Checks Report for the period July 1, 2015 through September 30, 2015, for a total disbursement of $60, A motion was made by Trustee Ranallo and seconded by Trustee Peterson to approve the Vendor Checks Report in the amount of $60, AYES: Trustees Wirsing, Koenig, Peterson, Ranallo and Shafer NAYS: None ABSENT: None Additional Bills: The Board was presented with the 2016 IPPFA Annual Membership Dues invoice. A motion was made by Trustee Wirsing and seconded by Trustee Peterson to approve payment in the amount of $795 to IPPFA for the 2016 Annual Membership Dues. AYES: Trustees Wirsing, Koenig, Peterson, Ranallo and Shafer NAYS: None ABSENT: None INVESTMENT REPORT: Sawyer Falduto Asset Management: Mr. Falduto presented the Quarterly Investment Performance Report for the period ending September 30, As of September 30, 2015, the quarter-to-date total net return is -2.46% for an investment return of -$1,382,247 and an ending market value of $55,879,243. The year-to-date total net return is -0.95% for an investment return of -$434,697. The current asset allocation is as follows: Fixed Income at 55.3%, Equities at 44.5% and Cash Equivalents at 0.3%. Mr. Sawyer reviewed the Market Commentary, Equity and Fixed Income Portfolios, and Transaction Ledger Report with the Board. Mr. Sawyer noted the Baron Small Cap Fund is on Sawyer Falduto s watch list. A motion was made by Trustee Ranallo and seconded by Trustee Wirsing to accept the Quarterly Investment Performance Report ending September 30, 2015 as presented by Sawyer Falduto Asset Management. AYES: Trustees Wirsing, Koenig, Peterson, Ranallo and Shafer NAYS: None ABSENT: None Review/Update Investment Policy: There were no updates made to the Investment Policy at this time. A motion was made by Trustee Koenig and seconded by Trustee Peterson to retain the existing Investment Policy. AYES: Trustees Wirsing, Koenig, Peterson, Ranallo and Shafer NAYS: None ABSENT: None OLD BUSINESS: Trustee Training Update/Approve IPPFA Fall Conference Reimbursements: The Board reviewed the Trustee Training Summary and stated the 2015 IPPFA Fall Conference training certificates will be ed for filing purposes when they are received. All Trustees have completed their mandatory 16 hours of continued education for the year. The approval of the IPPFA Fall Conference reimbursements will be tabled until the next meeting. 3 of 40

4 Lombard Police Pension Fund Meeting Minutes October 19, 2015 Page 3 of 4 Contribution Refund- Andrea Rider: No correspondence has been received from Ms. Rider at this time. NEW BUSINESS: Approve Actuarial Report/Tax Levy Request/Municipal Compliance Report: The Board noted the Actuarial Report and tax levy request were approved at the July meeting. Mr. Flessner reviewed the Municipal Compliance Report with the Board. A motion was made by Trustee Peterson and seconded by Trustee Wirsing to accept and execute the Municipal Compliance Report for the fiscal year ended December 31, AYES: Trustees Wirsing, Koenig, Peterson, Ranallo and Shafer NAYS: None ABSENT: None Approve Applications for Membership- Brian Bastian, Evan M. Boros, and Timothy Franken: A motion was made by Trustee Wirsing and seconded by Trustee Ranallo to approve applications for membership into the Lombard Police Pension Fund for Brian Bastian as a Tier II participant, effective April 13, 2015 and Timothy Franken as a Tier II participant, effective March 27, Evan Boros has not completed the required paperwork at this time and will be approved at the next regular meeting. AYES: Trustees Wirsing, Koenig, Peterson, Ranallo and Shafer NAYS: None ABSENT: None Approve Regular Retirement Benefits- Scott W. Watkins: The Board was presented with the regular retirement benefit calculation for Lieutenant Scott Watkins as follows: entry date 07/01/1982; retirement date of 09/05/2015; effective date of pension 09/06/2015; age at retirement 59 years old; 33 years of creditable service; applicable salary $128,468.90; applicable pension percentage of 75%; amount of originally granted annual pension of $96,351.72; amount of originally granted monthly pension $8, A motion was made by Trustee Ranallo and seconded by Trustee Wirsing to approve the regular retirement benefit calculation for Scott W. Watkins as presented by Lauterbach & Amen. AYES: Trustees Wirsing, Koenig, Peterson, Ranallo and Shafer NAYS: None ABSENT: None Disability Application Status- Officer Terry Olson: Mr. Atwell informed the Board he is still awaiting subpoenaed records on several physician groups from the Village of Lombard and that Mr. Olson s application for a duty disability benefit is complete. Mr. Olson was present to request a regular retirement benefit in the interim. The Board informed Mr. Olson no regular retirement benefits will be paid during the process of the duty disability benefit and that State Statute only allows a duty disability benefit to be converted to a regular retirement benefit not vice versa. Mr. Olson elected to continue with the duty disability benefit. Discussion of a Debit/Credit Card for the Board: The Board discussed possibly obtaining a credit card for the Board to use for continued education expenses to eliminate a waiting period for reimbursements to be paid. Mr. Falduto expressed to the Board they would not be able to facilitate this request using the Pension Fund s Schwab account because the Pension Fund is under the retirement plan umbrella. Trustee Ranallo will conduct more research and further discussion will be held at the next meeting Board Meeting Dates: The Board established the 2016 Board meeting dates. A motion was made by Trustee Wirsing and seconded by Trustee Koenig to establish January 11 th, April 18 th, July 18 th, and October 17 th as the 2016 board meeting dates. Meetings will continue to be held at 1:30 pm in the Chief s Conference Room located at 235 E. Wilson, Lombard, Il Motion carried unanimously by voice vote. 4 of 40

5 Lombard Police Pension Fund Meeting Minutes October 19, 2015 Page 4 of 4 OTHER BUSINESS: Affidavits of Eligibility: The Board was informed that there is currently one outstanding affidavit for Mr. Orin Walker. The Board directed L&A to send a fourth request via certified mail to Mr. Walker with a return due date in November. Further updates will be provided at the next meeting. Active Member File Maintenance: The Board was informed several updates were received. ATTORNEY S REPORT: Annual IME Joseph Metallo: Mr. Atwell will send a letter to Mr. Metallo regarding his annual IME. Further discussion will be held at the next meeting. Legal Updates: There were no additional legal updates at this time. CLOSED SESSION, IF NEEDED: None ADJOURNMENT: A motion was made by Trustee Ranallo and seconded by Trustee Wirsing to adjourn the meeting at 2:45 pm. AYES: Trustees Wirsing, Koenig, Peterson, Ranallo and Shafer NAYS: None ABSENT: None R. Shafer, President J. Peterson, Vice President B. Ranallo, Secretary T. Wirsing, Assistant Secretary K. Koenig, Trustee Minutes approved by the Board of Trustees on (date). Minutes prepared by Stefanie Bravo, Pension Services Administrator ~ The next regular meeting is scheduled for January 11, 2016 at 1:30 pm. ~ 5 of 40

6 Lombard Police Pension Fund Monthly Financial Report For the Month Ended November 30, 2015 Prepared by: Lauterbach & Amen, LLP 6 of 40

7 Lombard Police Pension Fund Table of Contents Starting on Page Accountant's Compilation Report Financial Statements Statement of Net Position - Modified Cash Basis Statement of Changes in Net Position - Modified Cash Basis Other Supplementary Information Cash and Investments - Pie Chart Cash Analysis Report Cash Analysis Report - Graph Revenue Report Expenses - Bar Chart Expense Report Member Contribution Report Payroll Journal Quarterly Vendor Check Report Adjusted Journal Entries of 40

8 Accountant's Compilation Report 8 of 40

9 27W457 WARRENVILLE RD. WARRENVILLE, ILLINOIS PHONE FAX December 8, 2015 Members of the Pension Board of Trustees Lombard Police Pension Fund Lombard, IL We have compiled the accompanying modified cash basis statement of net position of the Lombard Police Pension Fund as of November 30, 2015 and the related modified cash basis statement of changes in net position for the eleven months then ended, and the accompanying other supplementary information as referred to in the table of contents. We have not audited or reviewed the accompanying financial statements and other supplementary information and, accordingly, do not express an opinion or provide any assurance about whether the financial statements and other supplementary information are in accordance with the modified cash basis of accounting. Management is responsible for the preparation and fair presentation of the financial statements and other supplementary information in accordance with the modified cash basis of accounting and for designing, implementing, and maintaining internal controls relevant to the preparation and fair presentation of the financial statements and other supplementary information. Our responsibility is to conduct the compilation in accordance with Statements for Standards and Review Services issued by the American Institute of Certified Public Accountants. The objective of a compilation is to assist the management in presenting financial information in the form of financial statements and other supplementary information without undertaking to obtain or provide any assurance that there are no material modifications that should be made to the financial statements and other supplementary information. Management has elected to omit substantially all of the disclosures, Management Discussion and Analysis (MD&A), and Required Supplementary Information (RSI) required by the modified cash basis of accounting. If the omitted disclosures were included in the financial statements and other supplementary information, they might influence the user's conclusions about the Pension Fund's assets, liabilities, fund balance, revenues and expenses. Accordingly, these financial statements and other supplementary information are not designed for those who are not informed about such matters. Cordially, Lauterbach & Amen, LLP of 40

10 Financial Statements 10 of 40

11 Lombard Police Pension Fund Statement of Net Position - Modified Cash Basis As of November 30, 2015 Assets Cash and Cash Equivalents $ 70, Investments, at Fair Value Money Market Mutual Funds 1,795, Fixed Income 30,170, Mutual Funds 26,910, Total Cash and Investments 58,947, Accrued Interest 271, Prepaids Total Assets 59,218, Liabilities Expenses Due/Unpaid 30, Total Liabilities 30, Net Position Held in Trust for Pension Benefits 59,188, See Accountants' Compilation Report of 40

12 Lombard Police Pension Fund Statement of Changes in Net Position - Modified Cash Basis For the Eleven Months Ended November 30, 2015 Additions Contributions - Employer $ 2,509, Contributions - Employee 577, Total Contributions 3,086, Investment Income Interest and Dividends Earned 1,183, Net Change in Fair Value 339, Total Investment Income 1,523, Less: Investment Expense (114,125.00) Net Investment Income 1,409, Deductions Total Additions 4,496, Administration 42, Benefits and Refunds Benefits 3,252, Refunds 2, Total Deductions 3,296, Change in Position 1,199, Net Position Held in Trust for Pension Benefits Beginning of Year 57,989, End of Period 59,188, See Accountants' Compilation Report of 40

13 Other Supplementary Information 13 of 40

14 Lombard Police Pension Fund Cash and Investments Demand Deposits 0% Money Market Mutual Funds 3% Mutual Funds 46% Fixed Income 51% of 40

15 Lombard Police Pension Fund Cash Analysis Report For the Twelve Periods Ending November 30, /31/14 1/31/15 2/28/15 3/31/15 4/30/15 5/31/15 6/30/15 7/31/15 8/31/15 9/30/15 10/31/15 11/30/15 Financial Institutions Balance Balance Balance Balance Balance Balance Balance Balance Balance Balance Balance Balance Harris Bank - Checking # ,033 51,713 45,182 47,123 53,254 46,876 50,662 42,219 42,644 50,401 45,354 40,766 Illinois Funds # ,172 30,172 30,172 30,173 30,173 30,174 30,175 30,176 30,177 30,179 30,180 30,181 83,205 81,885 75,354 77,296 83,428 77,050 80,837 72,395 72,822 80,579 75,534 70,947 IMET - Convenience Fund # , , , , , ,077 1,269,803 1,100, ,858 1,711,551 1,521,041 1,300,402 IMET - Convenience Fund Restricted 44,557 44,557 43,781 43,781 42,340 42,340 42,340 42,340 42,340 42,340 42,340 42,340 IMET- Liq Trust - Allowance for Unre (43,781) (43,781) (42,340) (42,340) (42,340) (42,340) (42,340) (42,340) (42,340) (42,340) Schwab - Money Market # , , ,632 65, , , , ,060 61, , , ,226 1,361,401 1,687, , , , ,172 1,901,945 1,679, ,687 1,857,728 1,636,332 1,795,629 Totals 1,444,605 1,769,012 1,062, , , ,222 1,982,782 1,751,803 1,021,509 1,938,308 1,711,867 1,866,576 Contributions Current Tax 29, ,244,514 45,269 36,280 1,084,362 69,191 29,065 Contributions - Current Year 49,434 75,696 46,614 46,572 49,321 47,502 48,616 72,737 47,055 48,018 45,963 49,394 78,580 76,000 46,769 46,572 49,536 47,527 1,293, ,007 83,335 1,132, ,154 78,459 Expenses Benefits 286, , , , , , , , , , , ,599 Refunds/Transfers of Service 2,791 Administration 36,894 2,560 1,060 30,153 10,310 1,260 31,255 3,060 37,349 2, , , , , , , , , , , , ,982 Total Contributions less Expenses (207,856) (254,464) (252,153) (248,058) (274,187) (256,353) 998,300 (206,818) (213,295) 832,119 (223,794) (225,523) See Accountants' Compilation Report of 40

16 Lombard Police Pension Fund Cash Analysis Summary $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $0 Demand Deposits ER & EE Contributions Benefit & Administrative Expenses of 40

17 Lombard Police Pension Fund Revenue Report as of November 30, 2015 Received this Month Received this Year Revenues Municipal and Member Contributions Municipal Contributions Current Tax 29, ,509, , ,509, Member Contributions Contributions - Current Year 49, , , , Total Municipal and Member Contributions 78, ,086, Investment Income Interest and Dividends Illinois Funds # IMET - Convenience Fund # , Schwab - Fixed Income # , , Schwab - Mutual Funds # , , , ,086, Gains and Losses IMET- Liq Trust - Allowance for Unrealized Loss 0.00 (42,340.47) Schwab - Fixed Income # (90,944.44) (130,153.88) Schwab - Mutual Funds # (81,655.73) 512, (172,600.17) 339, Other Income Accrued Interest (6,676.99) 96, Other Income (6,676.99) 96, Total Investment Income 122, ,523, Total Revenues 200, ,610, See Accountants' Compilation Report of 40

18 Lombard Police Pension Fund Expenses 3,000,000 2,500,000 2,000,000 1,500,000 1,000, ,000 - Service Pensions Duty Disability Surviving Spouse Refund of Administrative Pensions Pensions Contributions Series1 2,918, , ,106 2, , of 40

19 Lombard Police Pension Fund Expense Report as of November 30, 2015 Expended this Month Expended this Year Expenses Pensions and Benefits Service Pensions 271, ,918, Non-Duty Disability Pensions Duty Disability Pensions 20, , Occupational Disease Pensions Surviving Spouse Pensions 9, , Children's Pensions Parent's Pensions Handicapped Annuitant Pensions Refund of Contributions , Transfers to Other Pensions , ,254, Administrative Insurance Fiduciary Insurance , , Professional Services Accounting & Bookkeeping Services Medical Services , Legal Services 1, , PSA/Court Reporter , , , Investment Investment Manager/Advisor Fees , , Other Expense Conference/Seminar Fees , Association Dues Travel Expense , IDOI Filing Fee Expense , , Total Administrative 2, , Total Expenses 303, ,411, See Accountants' Compilation Report of 40

20 Lombard Police Pension Fund Member Contribution Report As of Month Ended November 30, 2015 Thru Current Prior Fiscal Fiscal Service Total Name Year Year Purchase Refunds Contributions Bakken, Christopher P. $ 130, , , Balsitis, Thomas F. 73, , , Barron, Nicholas R. 23, , , Bastian, Brian J , , Belanger, Daniel J. 151, , , Bendicsen, Matthew H. 110, , , Bichel, Bradley D. 59, , , Boros, Evan M , , Brack, Charles D. 29, , , Breytspraak, Alan J. 111, , , Brown, James 83, , , Byrne, Raymond J. 153, , , Camuy, Manuel O. 78, , , Chudzinski, Jason 49, , , Chudzinski, Michael J. 79, , , Clark, Michael K. 110, , , Collins, William S. 132, , , Coy, Paulino S. 95, , , Cozzi, John 105, , , Eakins/Fuchs, Sherie R. 89, , , Eriksen, Neil M. 95, , , Evoy, Terrence P. 125, , , Franken, Timothy R , , Frieling, Scott D. 124, , , Gouty, Eric R. 60, , , Grage, Joseph R. 112, , , Harris, Michael C. 103, , , Herbst, Eric C. 75, , , Jean, Scott P. 26, , , Jordan, Jeffrey W. 175, , , Klecka, Scott D. 150, , , Klunk, Garrett M. 120, , , Kohl, James M. 42, , , Kundrot, David M. 187, , , Latronica, John P. Jr. 119, , , Lavery, John D. 194, , , Lawson, Angela N. 145, , , Malatia, John A. 147, , , Marciniak, Daniel R. 148, , , Markas, Anthony J. 106, , , of 40

21 Lombard Police Pension Fund Member Contribution Report As of Month Ended November 30, 2015 Thru Current Prior Fiscal Fiscal Service Total Name Year Year Purchase Refunds Contributions Marks, William L. Jr. 159, , , McElroy, Thomas 49, , , Menolascino, Joseph A. 118, , , Mitchell, William H. Jr. 160, , , Nevara, Paul R. 153, , , Newton, Roy E. 161, , , Olson, Terry J. 156, , , Panagiotaros, Peter E. 152, , , Porrata/Holden, Jenette M. 82, , , Ranallo, Benny 109, , , Rojas, Alex 53, , , Rojas/Durancik, Paula C. 91, , , Roman, Vincente 51, , , Rome, Korbin C. 2, , , Schrepferman, James A. 154, , , Siegler, Andrew J. 86, , , Sohr, Gregory P. 124, , , Statkus, Joseph M. 81, , , Stern, Andrew J. 6, , , Thiede, David A. 153, , , Tomaszewski, Kevin R. 120, , , Velazquez/Abenante, Cynthia 171, , , Virene, Jeffrey M. 117, , , Vivo/Halls, Francis 64, , , Wagner, Joseph P. 144, , , Wirsing, Thomas W. 152, , , ,809, , ,373, Inactive Members DeMark, Jason M. 2, (2,791.33) 0.00 Rider, Andrea M. 34, , , Watkins, Scott W. 214, , , Total 7,062, , (2,791.33) 7,637, of 40

22 Batches Lombard Police Pension Fund Multiple Batch Report Check Date 11/30/2015 SSN Family ID Employee Name Alt Payee Name ACH Check # Net Amount Member Medical Ins Dental Ins Federal Tax Gross Duty Disability ***-** Alagna, Carl G. 0 $4, $4, $0.00 $0.00 $0.00 ***-**6750 Subtotal: $4, $4, $0.00 $0.00 $0.00 ***-** Engel, Richard W. 0 $1, $3, $0.00 $0.00 $ Engel, Beverly 0 $1, $0.00 $0.00 $0.00 $0.00 ***-**4058 Subtotal: $3, $3, $0.00 $0.00 $0.00 ***-** Metallo, Joseph A. 0 $3, $3, $0.00 $37.91 $0.00 ***-**0807 Subtotal: $3, $3, $0.00 $37.91 $0.00 ***-** O'Meara, Jerry U. 0 $2, $3, $0.00 $0.00 $ Child Support, 132 $1, $0.00 $0.00 $0.00 $0.00 ***-**6262 Subtotal: $3, $3, $0.00 $0.00 $0.00 ***-** Schwartz, Jeffrey L. 0 $4, $5, $ $17.44 $0.00 ***-**2303 Subtotal: $4, $5, $ $17.44 $0.00 Duty Disability Subtotal: $19, $20, $ $55.35 $ of 40

23 Batches Lombard Police Pension Fund Multiple Batch Report Check Date 11/30/2015 SSN Family ID Employee Name Alt Payee Name ACH Check # Net Amount Member Medical Ins Dental Ins Federal Tax Gross Service ***-** Bieniasz, David W. 0 $4, $5, $0.00 $0.00 $ ***-**5143 Subtotal: $4, $5, $0.00 $0.00 $ ***-** Carsley, Richard 0 $4, $5, $0.00 $0.00 $ ***-**6133 Subtotal: $4, $5, $0.00 $0.00 $ ***-** Cavey, Frank C. 0 $2, $3, $0.00 $0.00 $ ***-**7363 Subtotal: $2, $3, $0.00 $0.00 $ ***-** Clark, Edward A. 0 $3, $4, $0.00 $0.00 $ ***-**3198 Subtotal: $3, $4, $0.00 $0.00 $ ***-** Cuny, Dane C. 0 $6, $8, $0.00 $0.00 $1, ***-**5879 Subtotal: $6, $8, $0.00 $0.00 $1, ***-** Denny, Eldred 0 $2, $2, $0.00 $0.00 $0.00 ***-**7563 Subtotal: $2, $2, $0.00 $0.00 $0.00 ***-** Dillenkoffer, Karl V. 0 $7, $9, $0.00 $0.00 $1, of 40

24 Batches Lombard Police Pension Fund Multiple Batch Report Check Date 11/30/2015 SSN Family ID Employee Name Alt Payee Name ACH Check # Net Amount Member Medical Ins Dental Ins Federal Tax Gross ***-**4015 Subtotal: $7, $9, $0.00 $0.00 $1, ***-** Durnil, Barbara 0 $4, $5, $ $0.00 $ ***-**9025 Subtotal: $4, $5, $ $0.00 $ ***-** Eggers, Arthur T. 0 $3, $3, $0.00 $0.00 $ ***-**8038 Subtotal: $3, $3, $0.00 $0.00 $ ***-** Gabinski, Marilyn A. 0 $3, $5, $ $ $ ***-**6032 Subtotal: $3, $5, $ $ $ ***-** Gabinski, Roger L. 0 $3, $5, $ $0.00 $ ***-**6323 Subtotal: $3, $5, $ $0.00 $ ***-** Glennon, James S. 0 $1, $8, $ $37.91 $1, Payment to West Suburban Bank, Glennon Payment to West Suburban Bank, Glennon - 0 $4, $0.00 $0.00 $0.00 $ $ $0.00 $0.00 $0.00 $0.00 ***-**5901 Subtotal: $5, $8, $ $37.91 $1, ***-** Gouty, Mark A. 0 $5, $6, $0.00 $0.00 $ ***-**5952 Subtotal: $5, $6, $0.00 $0.00 $ of 40

25 Batches Lombard Police Pension Fund Multiple Batch Report Check Date 11/30/2015 SSN Family ID Employee Name Alt Payee Name ACH Check # Net Amount Member Medical Ins Dental Ins Federal Tax Gross ***-** Graehling, John S. 0 $2, $2, $0.00 $0.00 $ ***-**4644 Subtotal: $2, $2, $0.00 $0.00 $ ***-** Gray, Colin 0 $3, $3, $0.00 $0.00 $0.00 ***-**1232 Subtotal: $3, $3, $0.00 $0.00 $0.00 ***-** Gutsmiedl, Charles J. 0 $4, $5, $0.00 $0.00 $ ***-**1510 Subtotal: $4, $5, $0.00 $0.00 $ ***-** Heim, Scott M. 0 $4, $5, $0.00 $0.00 $ ***-**8514 Subtotal: $4, $5, $0.00 $0.00 $ ***-** Hogan, William D. 0 $4, $5, $0.00 $0.00 $ ***-**8423 Subtotal: $4, $5, $0.00 $0.00 $ ***-** Johnston, Gary G. 0 $5, $5, $0.00 $0.00 $ ***-**5363 Subtotal: $5, $5, $0.00 $0.00 $ ***-** Kelly, Daniel 0 $4, $5, $0.00 $0.00 $ ***-**5268 Subtotal: $4, $5, $0.00 $0.00 $ of 40

26 Batches Lombard Police Pension Fund Multiple Batch Report Check Date 11/30/2015 SSN Family ID Employee Name Alt Payee Name ACH Check # Net Amount Member Medical Ins Dental Ins Federal Tax Gross ***-** Kelly, Donald M. 0 $3, $4, $0.00 $0.00 $ ***-**8615 Subtotal: $3, $4, $0.00 $0.00 $ ***-** Kiebles, Joseph S. 0 $2, $4, $ $0.00 $ Payment to West Suburban Bank, Kiebles - 0 $ $0.00 $0.00 $0.00 $0.00 ***-**1573 Subtotal: $3, $4, $ $0.00 $ ***-** Kinney, Michael R. 0 $5, $6, $0.00 $0.00 $ ***-**6651 Subtotal: $5, $6, $0.00 $0.00 $ ***-** Kolzow Sr., Timothy A. 0 $1, $2, $0.00 $0.00 $ Payment to TCF National Bank, Kolzow - 0 $ $0.00 $0.00 $0.00 $0.00 ***-**7572 Subtotal: $2, $2, $0.00 $0.00 $ ***-** Kundrot Jr., Charles J. 0 $3, $3, $0.00 $0.00 $ ***-**1742 Subtotal: $3, $3, $0.00 $0.00 $ ***-** Lyons, Patrick M. 0 $4, $5, $0.00 $0.00 $1, ***-**6995 Subtotal: $4, $5, $0.00 $0.00 $1, of 40

27 Batches Lombard Police Pension Fund Multiple Batch Report Check Date 11/30/2015 SSN Family ID Employee Name Alt Payee Name ACH Check # Net Amount Member Medical Ins Dental Ins Federal Tax Gross ***-** Mazurek, James L. 134 $3, $3, $0.00 $0.00 $ ***-**6793 Subtotal: $3, $3, $0.00 $0.00 $ ***-** Mertz, Allen F. 0 $3, $3, $0.00 $0.00 $ ***-**3255 Subtotal: $3, $3, $0.00 $0.00 $ ***-** Montalto, Rick L. 0 $5, $7, $ $0.00 $1, ***-**4920 Subtotal: $5, $7, $ $0.00 $1, ***-** Neustadt, Daniel J. 0 $6, $8, $0.00 $0.00 $2, ***-**2695 Subtotal: $6, $8, $0.00 $0.00 $2, ***-** Nolan, Paul G. 0 $3, $4, $ $0.00 $ ***-**5575 Subtotal: $3, $4, $ $0.00 $ ***-** Nurczyk, Allen 0 $4, $5, $0.00 $0.00 $1, ***-**6642 Subtotal: $4, $5, $0.00 $0.00 $1, ***-** Orban, Daniel 0 $5, $6, $0.00 $0.00 $ ***-**7571 Subtotal: $5, $6, $0.00 $0.00 $ of 40

28 Batches Lombard Police Pension Fund Multiple Batch Report Check Date 11/30/2015 SSN Family ID Employee Name Alt Payee Name ACH Check # Net Amount Member Medical Ins Dental Ins Federal Tax Gross ***-** Partipilo, Frank 0 $3, $4, $ $0.00 $ Payment to West Suburban Bank, Partipilo - 0 $ $0.00 $0.00 $0.00 $0.00 ***-**5744 Subtotal: $3, $4, $ $0.00 $ ***-** Pokorny, Steven F. 0 $4, $5, $0.00 $0.00 $1, ***-**3439 Subtotal: $4, $5, $0.00 $0.00 $1, ***-** Rollins, Patrick J. 0 $4, $5, $0.00 $0.00 $1, ***-**8073 Subtotal: $4, $5, $0.00 $0.00 $1, ***-** Rusnak, Ronald J. 0 $5, $6, $0.00 $0.00 $1, ***-**3000 Subtotal: $5, $6, $0.00 $0.00 $1, ***-** Ryan, William J. 0 $4, $5, $0.00 $0.00 $ ***-**5757 Subtotal: $4, $5, $0.00 $0.00 $ ***-** Schuttler, Charles R. 0 $3, $3, $0.00 $0.00 $ ***-**5137 Subtotal: $3, $3, $0.00 $0.00 $ ***-** Shafer, Richard A. 135 $3, $5, $ $0.00 $ of 40

29 Batches Lombard Police Pension Fund Multiple Batch Report Check Date 11/30/2015 SSN Family ID Employee Name Alt Payee Name ACH Check # Net Amount Member Medical Ins Dental Ins Federal Tax Gross ***-**0931 Subtotal: $3, $5, $ $0.00 $ ***-** Soutar II, William F. 0 $4, $5, $0.00 $39.28 $ ***-**4617 Subtotal: $4, $5, $0.00 $39.28 $ ***-** Spika, Richard 0 $5, $7, $ $0.00 $ ***-**9600 Subtotal: $5, $7, $ $0.00 $ ***-** Sticka, Richard A. 0 $5, $7, $0.00 $0.00 $1, ***-**9820 Subtotal: $5, $7, $0.00 $0.00 $1, ***-** Thomen, Gene K. 0 $3, $4, $0.00 $0.00 $ ***-**3624 Subtotal: $3, $4, $0.00 $0.00 $ ***-** Urbanski, John 0 $4, $5, $ $17.44 $ ***-**9928 Subtotal: $4, $5, $ $17.44 $ ***-** Walker, Orin 0 $3, $3, $0.00 $0.00 $ Department of the Treasury, Internal Revenue Service 133 $ $0.00 $0.00 $0.00 $0.00 ***-**3694 Subtotal: $3, $3, $0.00 $0.00 $ of 40

30 Batches Lombard Police Pension Fund Multiple Batch Report Check Date 11/30/2015 SSN Family ID Employee Name Alt Payee Name ACH Check # Net Amount Member Medical Ins Dental Ins Federal Tax Gross ***-** Ward, Donald R. 0 $2, $4, $1, $0.00 $ ***-**1654 Subtotal: $2, $4, $1, $0.00 $ ***-** Watkins, Scott W. 0 $4, $8, $0.00 $0.00 $1, Payment to Bank of America, Watkins Payment to DuPage Credit Union, Watkins - 0 $1, $0.00 $0.00 $0.00 $ $1, $0.00 $0.00 $0.00 $0.00 ***-**2261 Subtotal: $6, $8, $0.00 $0.00 $1, ***-** Williams, Steven 0 $5, $5, $0.00 $0.00 $ ***-**1402 Subtotal: $5, $5, $0.00 $0.00 $ ***-** Wind, Dennis L. 0 $2, $2, $0.00 $0.00 $ ***-**8684 Subtotal: $2, $2, $0.00 $0.00 $ ***-** Zaremba, Lawrence 0 $4, $5, $0.00 $0.00 $ ***-**6764 Subtotal: $4, $5, $0.00 $0.00 $ Service Subtotal: $222, $271, $7, $ $40, Surviving Spouse ***-** Garbers, Peggy 0 $4, $5, $0.00 $0.00 $ of 40

31 Batches Lombard Police Pension Fund Multiple Batch Report Check Date 11/30/2015 SSN Family ID Employee Name Alt Payee Name ACH Check # Net Amount Member Medical Ins Dental Ins Federal Tax Gross ***-**9307 Subtotal: $4, $5, $0.00 $0.00 $ ***-** Mollsen, Anneliese 0 $1, $1, $0.00 $0.00 $ ***-**3906 Subtotal: $1, $1, $0.00 $0.00 $ ***-**2980 Totals Schweihs, Ruth A. 0 $2, $3, $0.00 $0.00 $ ***-**2980 Subtotal: $2, $3, $0.00 $0.00 $ Surviving Spouse Subtotal: $7, $9, $0.00 $0.00 $1, ACH Flag Payments Net Payment Total Gross Medical Ins Dental Ins Federal Tax Yes 65 $241, $292, $7, $ $41, No 4 $8, $9, $ $0.00 $1, $250, $301, $8, $ $42, of 40

32 All Checkbooks 09/01/15-11/30/15 Lombard Police Pension Fund LOMBARDPOL Vendor Checks Report Page 1 Vendor Name Chk. No. Check Date Amount VILLAGE OF LOMBARD /30/15 8, Electronic IPPFA /06/15 1, RICK SHAFER * /20/ TOM WIRSING * /20/ Subtotal 1, ATWELL & ATWELL /22/15 3, BENNY RANALLO * VOID /22/ BENNY RANALLO * /22/ JERRY PETERSON * /22/ KAREN KOENIG * /22/ LAUTERBACH & AMEN LLP /22/15 1, Subtotal 5, LAUTERBACH & AMEN LLP /23/15 1, VILLAGE OF LOMBARD /30/15 8, Electronic SAWYER FALDUTO ASSET MGMT, LLC /31/15 27, IPPFA /11/ ATWELL & ATWELL /25/15 1, VILLAGE OF LOMBARD /30/15 8, Electronic TOTAL 65, of 40

33 Lombard Police Pension Fund Adjusting Journal Entries November 30, 2015 Account # Debit/(Credit) Harris Bank - Checking (4,587.91) Schwab - Trust , IL Funds IMET (220,639.15) IMET Restricted 0.00 IMET Restricted 0.00 US Gov't. & Agency Securities (389,347.52) Mutual Funds , Insurance Contracts Municipal Obligation Accrued Interest (6,676.99) Prepaids - Y/E ADJUSTMENT Liabilities Fund Balance Income - Fixed Income , Income - Mutual Funds (137,959.13) Miscellaneous Income Participant Contributions (49,394.35) Property Taxes (29,064.77) Benefits , Refunds Administrative , of 40

34 Lombard Police Pension Fund Disbursement Summary Fourth Quarter Month Description Amount October 2015 Payroll $301, November 2015 Payroll $301, December 2015 Payroll $301, Payroll Subtotal: $904, October 2015 Vendor $46, November 2015 Vendor $11, December 2015 Vendor $18, Vendor Subtotal: $75, Total Disbursement: $980, of 40

35 Certified Trustee Training Organization: Lombard Police Pension Fund Year: Hours Required 16 Type of Training Karen Koenig Hours Completed Date Completed Cert on File Hours Required 16 Type of Training Jerry Peterson Hours Completed Date Completed Cert on File Hours Required 16 Benny Ranallo - FOIA/OMA Type of Training Hours Completed Date Completed Cert on File Hours Required 16 Type of Training Rick Shafer Hours Completed Date Completed Cert on File Hours Required 16 Type of Training Tom Wirsing Hours Completed Date Completed Cert on File Hours Required Type of Training Hours Completed Date Completed Cert on File Page 1 of 1 35 of 40

36 2016 IPFA SPRING PENSION SEMINAR Friday 5/6/2016 Black Shift Empress Banquets 200 East Lake Street Addison, IL SEMINAR REGISTRATION FORM Municipality, (please print or type) District, or Firm: Address: City:, IL Zip: Phone: SEMINAR FEES: IPFA Members: $ Non - Members: $ Walk-In Registration: $ Avoid the walk-in surcharge by registering on or before Monday, May 2, 2016 First Name: Last Name: Address: Member Non-Member $. $. $. $. $. $. $. $. $. $. TOTAL CHECK ENCLOSED $. Payment must accompany this Registration Form and be received in our office on or before Monday, May 2 nd, to qualify for lower rates. Reservations received after the above date will be charged walk-in registration fee. Requests for refunds must be received on or before May 2 nd, for full fee refunds. No refunds of seminar fees after this date. Please return the completed form to IPFA, 188 Industrial Drive, Suite 438, Elmhurst, IL , fax it to , or scan & to ipfa@aol.com. Any questions, call For Tax Reporting Purposes our Federal I.D. Number is: The Illinois Pension Statute requires continuing education for all pension board members. This seminar provides up to 8 hours of credits. For IPFA Office Use: Date: Check #: Amount: Payer: 36 of 40

37 IPPFA 2016 Regional Seminars The Leader in Pension Trustee Training The 2016 IPPFA Regional Seminars will sa sfy 8 hours of the required con nuing pension trustee training Once again the IPPFA is proud to present its regional seminars. By attending one of our regional seminars you are given the opportunity to hear speakers and professionals that work in the public pension arena on a daily basis. Receive up to date information in the areas of legislation, investments, ethics, the economy and fiduciary responsibilities. Check our web site for agenda updates. Please select the location of your choice: Wednesday February 10, 2016 NIU Campus 5555 Trillium Boulevard, Hoffman Estates, IL Wednesday March 23, 2016 Jumer s Hotel & Casino 777 Jumer Drive, Rock Island, IL Thursday June 16, 2016 Lewis & Clark Community College Edwardsville Campus, 600 Troy, Edwardsville Wednesday November 9, 2016 John A. Logan College, Carterville, IL Seminars are scheduled from 8:00 AM until 4:00 PM Registration begins at 7:00 AM For fast registration online go to -REGISTER NOW SPACE IS LIMITED- Please Print Registration Fee: IPPFA Members- $ Non-Member- $ Name Fund Address City, Zip Phone - Your Credit Card # Visa MC Am Ex Disc. Exp. Date Name on card Or Check # Billing Address: City: State: Zip: Register on line: Or use registration form and fax to or mail to: IPPFA, 2587 Millennium Drive, Unit C, Elgin, IL Call with registra on ques ons M F 8:00 am to 4:00 pm. All payments made payable to: IPPFA Watch our web site for updates on this agenda and other training opportunities These dates are subject to change. 37 of 40

38 LOMBARD POLICE PENSION FUND Annual Benefit Increases January 1, Including Changes Through 11/2015 Payroll Type of Prior COLA Current Annualized Pensioner Pension Notes Benefit Increase Benefit Benefit Alagna, Carl G. Duty Disability $ 4, , , Bieniasz, David W. Service 5, , , Carsley, Richard Service 5, , , Cavey, Frank C. Service 3, , , Clark, Edward A. Service 4, , , Cuny, Dane C. Service 8, , , Denny, Eldred Service 2, , , Dillenkoffer, Karl V. Service 9, , , Durnil, Barbara Service 5, , , Eggers, Arthur T. Service 3, , , Engel, Richard W. Duty Disability 1, , , Engel, Richard W. - Spouse Duty Disability 1, , , Gabinski, Roger L. Service 5, , , Gabinski/Johnson, Marilyn A. Service 5, , , Garbers, Peggy Spouse 5, , , Glennon, James S. Service 8, , , Gouty, Mark Service 6, , , Graehling, John S. Service 2, , , Gray, Colin Service 3, , , Gutsmiedl, Charles Service 5, , , Heim, Scott M. Service 5, , , Hogan, William D. Service 5, , , Johnston, Gary G. Service 5, , , Kelly, Daniel Service 5, , , Kelly, Donald M. Service 4, , , Kiebles, Joseph S. Service 4, , , Kinney, Michael R. Service 6, , , Kolzow, Timothy A. Sr. Service 2, , , Kundrot, Charles J. Jr. Service 3, , , Lyons, Patrick M. Service 5, , , Mazurek, James L. Service 3, , , Mertz, Allen F. Service 3, , , Metallo, Joseph A. Duty Disability 3, , , Mollsen, Anneliese Spouse 1, , , Montalto, Rick L. Service 7, , , Neustadt, Daniel J. Service 8, , , Nolan, Paul G. Service 4, , , Nurczyk, Allen Service 5, , , O'Meara, Jerry U. Duty Disability 3, , , Orban, Daniel Service 6, , , Partipilo, Frank Service 4, , , Pokorny, Steven F. Service 5, , , Rollins, Patrick J. Service 5, , , Page 1 38 of 40

39 LOMBARD POLICE PENSION FUND Annual Benefit Increases January 1, Including Changes Through 11/2015 Payroll Type of Prior COLA Current Annualized Pensioner Pension Notes Benefit Increase Benefit Benefit Rusnak, Ronald J. Service 6, , , Ryan, William J. Service 5, , , Schuttler, Charles Service 3, , , Schwartz, Jeffrey L. Duty Disability - T 5, , , Schweihs, Ruth A. Spouse 3, , , Shafer, Richard A. Service 5, , , Soutar, William F. II Service 5, , , Spika, Richard Service 7, , , Sticka, Richard Service 7, , , Thomen, Gene K. Service 4, , , Urbanski, John Service 5, , , Walker, Orin Service 3, , , Ward, Donald R. Service 4, , , Watkins, Scott W. Service 8, , , Williams, Steven Service 5, , , Wind, Dennis L. Service 2, , , Zaremba, Lawrence Service 5, , , Totals 301, , , ,710, Page 2 39 of 40

40 LOMBARD POLICE PENSION FUND Summary of Benefit Changes and Notes January 1, Including Changes Through 11/2015 Payroll Pensioner Summary of Benefit Changes Amount of New Monthly Reason Date Change Benefit Gabinski/Johnson, Marilyn A. Initial Increase 7/1/ , Watkins, Scott W. Initial Increase 10/1/ , Schwartz, Jeffrey L. Initial Increase 1/1/ , Rollins, Patrick J. Initial Increase 2/1/ , Heim, Scott M. Initial Increase 11/1/ , Alagna, Carl G. Initial Increase 1/1/2020 1, , O'Meara, Jerry U. Initial Increase 1/1/2020 1, , Metallo, Joseph A. Initial Increase 1/1/2039 3, , None Notes Page 3 40 of 40